NASDAQ : MKSI
MKS Inc. — Financial statements
Technology · Scientific & Technical Instruments · United States
Last price 202.04 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 13.66B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
MKS Inc. (MKSI) reported revenue of 4.35B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.35B | 3.93B | 3.59B | 3.62B | 3.55B | 2.95B |
| Cost of Revenue | 2.31B | 2.09B | 1.88B | 1.98B | 2.00B | 1.57B |
| Gross Profit | 2.04B | 1.84B | 1.71B | 1.64B | 1.55B | 1.38B |
| Selling, General & Admin | 752.00M | 724.00M | 674.00M | 675.00M | 488.00M | 385.00M |
| Research & Development | 311.00M | 299.00M | 271.00M | 288.00M | 241.00M | 200.00M |
| Amortization of Goodwill & Intangibles | 250.00M | 247.00M | 245.00M | 295.00M | 146.00M | 55.00M |
| Other Operating Expenses | 14.00M | 14.00M | 2.00M | |||
| Operating Expenses | 1.33B | 1.28B | 1.19B | 1.26B | 875.00M | 640.00M |
| Operating Income | 714.00M | 553.00M | 516.00M | 384.00M | 672.00M | 740.00M |
| Interest Expense | -203.00M | -212.00M | -284.00M | -356.00M | -177.00M | -25.00M |
| Interest & Investment Income | 11.00M | 14.00M | 21.00M | 17.00M | 4.00M | |
| Currency Exchange Gain (Loss) | -18.00M | -18.00M | -30.00M | -5.00M | -9.00M | |
| Other Non Operating Income (Expenses) | 13.00M | 2.00M | 2.00M | 3.00M | -6.00M | |
| EBT Excluding Unusual Items | 517.00M | 339.00M | 255.00M | 18.00M | 488.00M | 706.00M |
| Merger & Restructuring Charges | -11.00M | -23.00M | -13.00M | -36.00M | -62.00M | -41.00M |
| Impairment of Goodwill | -1.90B | |||||
| Gain (Loss) on Sale of Assets | 2.00M | 7.00M | ||||
| Other Unusual Items | -16.00M | -12.00M | -62.00M | -10.00M | ||
| Pretax Income | 487.00M | 304.00M | 180.00M | -1.93B | 433.00M | 665.00M |
| Income Tax Expense | 48.00M | 9.00M | -10.00M | -87.00M | 100.00M | 114.00M |
| Net Income | 439.00M | 295.00M | 190.00M | -1.84B | 333.00M | 551.00M |
| Net Income to Common | 439.00M | 295.00M | 190.00M | -1.84B | 333.00M | 551.00M |
| Shares Outstanding (Basic) | 67.40M | 67.30M | 67.30M | 66.80M | 59.70M | 55.40M |
| Shares Outstanding (Diluted) | 69.90M | 67.70M | 67.60M | 66.80M | 59.90M | 55.70M |
| EPS (Basic) | 6.51 | 4.38 | 2.82 | -27.56 | 5.58 | 9.95 |
| EPS (Diluted) | 6.30 | 4.37 | 2.81 | -27.56 | 5.56 | 9.90 |
| Free Cash Flow | 455.00M | 497.00M | 410.00M | 232.00M | 365.00M | 553.00M |
| Free Cash Flow Per Share | 6.51 | 7.34 | 6.07 | 3.47 | 6.09 | 9.93 |
| Dividend Per Share | 0.94 | 0.88 | 0.88 | 0.88 | 0.88 | 0.86 |
| Gross Margin | 46.95% | 46.73% | 47.63% | 45.33% | 43.61% | 46.78% |
| Operating Margin | 16.43% | 14.07% | 14.39% | 10.60% | 18.95% | 25.09% |
| Profit Margin | 10.10% | 7.50% | 5.30% | -50.83% | 9.39% | 18.68% |
| Free Cash Flow Margin | 10.47% | 12.64% | 11.43% | 6.40% | 10.29% | 18.75% |
| EBITDA | 1.06B | 897.00M | 864.00M | 781.00M | 888.00M | 844.00M |
| EBITDA Margin | 24.32% | 22.82% | 24.09% | 21.56% | 25.04% | 28.61% |
| D&A For EBITDA | 343.00M | 344.00M | 348.00M | 397.00M | 216.00M | 104.00M |
| EBIT | 714.00M | 553.00M | 516.00M | 384.00M | 672.00M | 740.00M |
| EBIT Margin | 16.43% | 14.07% | 14.39% | 10.60% | 18.95% | 25.09% |
| Effective Tax Rate | 9.86% | 2.96% | 23.09% | 17.14% | ||
| Revenue as Reported | 4.35B | 3.93B | 3.59B | 3.62B | 3.55B | 2.95B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 611.00M | 675.00M | 714.00M | 875.00M | 909.00M | 966.00M |
| Short-Term Investments | 1.00M | 76.00M | ||||
| Cash & Short-Term Investments | 611.00M | 675.00M | 714.00M | 875.00M | 910.00M | 1.04B |
| Accounts Receivable | 830.00M | 651.00M | 615.00M | 603.00M | 766.00M | 447.00M |
| Receivables | 830.00M | 651.00M | 615.00M | 603.00M | 766.00M | 447.00M |
| Inventory | 1.03B | 921.00M | 893.00M | 991.00M | 977.00M | 577.00M |
| Other Current Assets | 300.00M | 263.00M | 252.00M | 227.00M | 141.00M | 81.00M |
| Total Current Assets | 2.77B | 2.51B | 2.47B | 2.70B | 2.79B | 2.15B |
| Property, Plant & Equipment | 1.06B | 1.08B | 1.01B | 1.01B | 1.03B | 510.00M |
| Goodwill | 2.58B | 2.57B | 2.48B | 2.55B | 4.31B | 1.23B |
| Other Intangible Assets | 2.02B | 2.14B | 2.27B | 2.62B | 3.17B | 576.00M |
| Other Long-Term Assets | 509.00M | 492.00M | 356.00M | 240.00M | 186.00M | 79.00M |
| Total Assets | 8.94B | 8.80B | 8.59B | 9.12B | 11.49B | 4.54B |
| Accounts Payable | 534.00M | 407.00M | 341.00M | 327.00M | 426.00M | 168.00M |
| Accrued Expenses | 260.00M | 277.00M | 186.00M | 159.00M | 162.00M | 132.00M |
| Current Portion of Long-Term Debt | 1.40B | 51.00M | 50.00M | 93.00M | 93.00M | 9.00M |
| Current Portion of Leases | 31.00M | 30.00M | 26.00M | 18.00M | ||
| Current Income Taxes Payable | 53.00M | 48.00M | 64.00M | 57.00M | 51.00M | 25.00M |
| Current Unearned Revenue | 109.00M | 79.00M | 71.00M | 77.00M | 94.00M | 37.00M |
| Other Current Liabilities | 69.00M | 34.00M | 63.00M | 105.00M | 100.00M | 71.00M |
| Total Current Liabilities | 2.42B | 927.00M | 775.00M | 848.00M | 952.00M | 460.00M |
| Long-Term Debt | 2.54B | 4.15B | 4.49B | 4.70B | 4.83B | 813.00M |
| Long-Term Leases | 243.00M | 246.00M | 211.00M | 205.00M | 215.00M | 193.00M |
| Long-Term Deferred Tax Liabilities | 438.00M | 474.00M | 504.00M | 640.00M | 783.00M | 99.00M |
| Other Long-Term Liabilities | 304.00M | 280.00M | 290.00M | 257.00M | 228.00M | 88.00M |
| Total Liabilities | 5.95B | 6.08B | 6.27B | 6.65B | 7.01B | 1.65B |
| Additional Paid-In Capital | 2.09B | 2.10B | 2.07B | 2.19B | 2.14B | 907.00M |
| Retained Earnings | 936.00M | 711.00M | 503.00M | 373.00M | 2.27B | 1.99B |
| Comprehensive Income & Other | -41.00M | -93.00M | -248.00M | -96.00M | 69.00M | -11.00M |
| Shareholders' Equity | 2.99B | 2.72B | 2.32B | 2.47B | 4.48B | 2.89B |
| Total Liabilities & Equity | 8.94B | 8.80B | 8.59B | 9.12B | 11.49B | 4.54B |
| Total Debt | 4.19B | 4.48B | 4.75B | 5.02B | 5.17B | 1.03B |
| Net Cash (Debt) | -3.58B | -3.80B | -4.04B | -4.15B | -4.26B | 9.00M |
| Net Cash Per Share | -51.14 | -56.17 | -59.69 | -62.11 | -71.09 | 0.16 |
| Filing Date Shares Outstanding | 67.62M | 67.25M | 67.38M | 67.06M | 66.67M | 55.52M |
| Total Common Shares Outstanding | 67.60M | 67.20M | 67.40M | 66.90M | 66.60M | 55.50M |
| Working Capital | 350.00M | 1.58B | 1.70B | 1.85B | 1.84B | 1.69B |
| Book Value Per Share | 44.20 | 40.46 | 34.45 | 36.95 | 67.31 | 52.02 |
| Tangible Book Value | -1.61B | -2.00B | -2.43B | -2.70B | -3.00B | 1.08B |
| Tangible Book Value Per Share | -23.77 | -29.69 | -36.04 | -40.37 | -45.02 | 19.51 |
| Land | 86.00M | 80.00M | 76.00M | 75.00M | 12.00M | |
| Buildings | 379.00M | 322.00M | 335.00M | 330.00M | 133.00M | |
| Machinery | 867.00M | 840.00M | 877.00M | 825.00M | 615.00M | |
| Construction In Progress | 147.00M | 82.00M | 60.00M | 75.00M | 27.00M | |
| Leasehold Improvements | 190.00M | 183.00M | 174.00M | 157.00M | 152.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 439.00M | 295.00M | 190.00M | -1.84B | 333.00M | 551.00M |
| Depreciation & Amortization | 343.00M | 344.00M | 348.00M | 397.00M | 216.00M | 104.00M |
| Other Amortization | 21.00M | 26.00M | 30.00M | 33.00M | 56.00M | 2.00M |
| Loss (Gain) From Sale of Assets | -2.00M | -7.00M | ||||
| Asset Writedown & Restructuring Costs | 1.90B | |||||
| Stock-Based Compensation | 55.00M | 55.00M | 48.00M | 54.00M | 45.00M | 37.00M |
| Other Operating Activities | -130.00M | -150.00M | -92.00M | -125.00M | 43.00M | 18.00M |
| Change in Accounts Receivable | -190.00M | -16.00M | -36.00M | 114.00M | -4.00M | -53.00M |
| Change in Inventory | -165.00M | -50.00M | 20.00M | -76.00M | -236.00M | -92.00M |
| Change in Accounts Payable | 197.00M | 55.00M | 21.00M | -99.00M | 61.00M | 56.00M |
| Change in Income Taxes | 21.00M | 21.00M | 49.00M | -64.00M | 19.00M | 1.00M |
| Change in Other Net Operating Assets | 44.00M | 65.00M | -50.00M | 26.00M | 3.00M | 16.00M |
| Operating Cash Flow | 635.00M | 645.00M | 528.00M | 319.00M | 529.00M | 640.00M |
| Capital Expenditures | -180.00M | -148.00M | -118.00M | -87.00M | -164.00M | -87.00M |
| Sale of Property, Plant & Equipment | 1.00M | 3.00M | 1.00M | 3.00M | 9.00M | |
| Cash Acquisitions | -4.47B | -268.00M | ||||
| Investment in Securities | -1.00M | 76.00M | 150.00M | |||
| Investing Cash Flow | -180.00M | -145.00M | -117.00M | -84.00M | -4.55B | -205.00M |
| Long-Term Debt Issued | 2.16B | 216.00M | 5.24B | 1.00M | ||
| Total Debt Issued | 1.19B | 2.16B | 216.00M | 5.24B | 1.00M | |
| Long-Term Debt Repaid | -451.00M | -2.43B | -403.00M | -962.00M | -15.00M | |
| Total Debt Repaid | -1.60B | -451.00M | -2.43B | -403.00M | -962.00M | -15.00M |
| Net Debt Issued (Repaid) | -412.00M | -451.00M | -266.00M | -187.00M | 4.28B | -14.00M |
| Repurchase of Common Stock | -45.00M | |||||
| Common Dividends Paid | -63.00M | -59.00M | -59.00M | -59.00M | -52.00M | -47.00M |
| Other Financing Activities | -63.00M | -7.00M | -224.00M | -13.00M | -252.00M | -4.00M |
| Financing Cash Flow | -538.00M | -562.00M | -549.00M | -259.00M | 3.97B | -65.00M |
| Foreign Exchange Rate Adjustments | 20.00M | 23.00M | -23.00M | -10.00M | -5.00M | -12.00M |
| Net Cash Flow | -63.00M | -39.00M | -161.00M | -34.00M | -57.00M | 358.00M |
| Free Cash Flow | 455.00M | 497.00M | 410.00M | 232.00M | 365.00M | 553.00M |
| Free Cash Flow Margin | 10.47% | 12.64% | 11.43% | 6.40% | 10.29% | 18.75% |
| Free Cash Flow Per Share | 6.51 | 7.34 | 6.07 | 3.47 | 6.09 | 9.93 |
| Levered Free Cash Flow | 480.38M | 535.12M | 514.00M | 369.50M | 83.38M | 455.68M |
| Unlevered Free Cash Flow | 586.25M | 641.62M | 661.50M | 559.00M | 138.00M | 469.30M |
| Cash Interest Paid | 190.00M | 190.00M | 268.00M | 305.00M | 110.00M | 23.00M |
| Cash Income Tax Paid | 178.00M | 178.00M | 145.00M | 180.00M | 133.00M | 110.00M |
| Change in Working Capital | -93.00M | 75.00M | 4.00M | -99.00M | -157.00M | -72.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 13.29B | 10.73B | 7.03B | 6.88B | 5.64B | 9.66B |
| Enterprise Value | 16.86B | 14.62B | 11.22B | 11.13B | 9.99B | 9.82B |
| Last Close Price | 196.54 | 159.38 | 103.24 | 101.01 | 82.38 | 168.01 |
| PE Ratio | 31.18 | 36.38 | 36.98 | 16.92 | 17.53 | |
| Forward PE | 12.49 | 18.73 | 13.93 | 25.32 | 18.00 | 14.65 |
| PS Ratio | 3.06 | 2.73 | 1.96 | 1.90 | 1.59 | 3.27 |
| PB Ratio | 4.45 | 3.95 | 3.03 | 2.78 | 1.26 | 3.35 |
| P/TBV Ratio | 8.92 | |||||
| P/FCF Ratio | 29.21 | 21.60 | 17.14 | 29.65 | 15.44 | 17.47 |
| P/OCF Ratio | 20.93 | 16.64 | 13.31 | 21.57 | 10.65 | 15.09 |
| PEG Ratio | 0.36 | 1.53 | 0.51 | 28.18 | 1.98 | 0.91 |
| EV/Sales Ratio | 3.88 | 3.72 | 3.13 | 3.07 | 2.81 | 3.33 |
| EV/EBITDA Ratio | 15.96 | 16.30 | 12.99 | 14.25 | 11.24 | 11.63 |
| EV/EBIT Ratio | 23.62 | 26.44 | 21.75 | 28.98 | 14.86 | 13.27 |
| EV/FCF Ratio | 37.06 | 29.42 | 27.37 | 47.97 | 27.36 | 17.75 |
| Debt / Equity Ratio | 1.40 | 1.65 | 2.04 | 2.03 | 1.15 | 0.36 |
| Debt / EBITDA Ratio | 3.79 | 4.74 | 5.22 | 6.10 | 5.59 | 1.18 |
| Debt / FCF Ratio | 9.20 | 9.01 | 11.58 | 21.66 | 14.16 | 1.87 |
| Net Debt / Equity Ratio | 1.20 | 1.40 | 1.74 | 1.68 | 0.95 | -0.00 |
| Net Debt / EBITDA Ratio | 3.38 | 4.24 | 4.67 | 5.31 | 4.79 | -0.01 |
| Net Debt / FCF Ratio | 7.86 | 7.65 | 9.84 | 17.88 | 11.67 | -0.02 |
| Asset Turnover | 0.49 | 0.45 | 0.41 | 0.35 | 0.44 | 0.70 |
| Inventory Turnover | 2.36 | 2.31 | 1.99 | 2.01 | 2.57 | 2.91 |
| Quick Ratio | 0.59 | 1.43 | 1.72 | 1.74 | 1.76 | 3.24 |
| Current Ratio | 1.14 | 2.71 | 3.19 | 3.18 | 2.94 | 4.67 |
| Return on Equity (ROE) | 15.85% | 11.70% | 7.93% | -52.94% | 9.04% | 21.00% |
| Return on Assets (ROA) | 5.02% | 3.98% | 3.64% | 2.33% | 5.24% | 10.96% |
| Return on Invested Capital (ROIC) | 9.83% | 8.33% | 7.95% | 5.00% | 8.90% | 22.50% |
| Return on Capital Employed (ROCE) | 11.00% | 7.00% | 6.60% | 4.60% | 6.40% | 18.10% |
| Earnings Yield | 3.21% | 2.75% | 2.70% | -26.76% | 5.91% | 5.70% |
| FCF Yield | 3.42% | 4.63% | 5.84% | 3.37% | 6.48% | 5.73% |
| Dividend Yield | 0.51% | 0.55% | 0.84% | 0.86% | 1.04% | 0.49% |
| Payout Ratio | 15.86% | 20.00% | 31.05% | 15.62% | 8.53% | |
| Buyback Yield / Dilution | -3.40% | -0.15% | -1.20% | -11.52% | -7.54% | -0.72% |
| Total Shareholder Return | -2.89% | 0.40% | -0.35% | -10.66% | -6.50% | -0.23% |